OVATION 5X00419G02 Controller Module

Basic Info.

Brand Name: Ovation

Model No.: 5X00419G01

Some news

Westinghouse Braking Inc. (NYSE: WAB) announced Tuesday that it has completed a merger with GE Transportation.

This merger will Westinghouse brake a wide range of railway passenger and freight and electronic products and GE transportation in the locomotive, mining, shipbuilding, stationary power and drilling industry such as first-class equipment, services, and solutions, digital makes Westinghouse brake a Fortune 500 company, the global leader in the field of transport and logistics.

Westinghouse Has been told the company will be included in the S&P 500.

Raymond T. Betler, President and CEO of Westinghouse Brake, said, "We are very excited about the completion of the merger of the two companies.

This is a once-in-a-lifetime opportunity to bring together nearly four centuries of experience from both companies to create a technologically advanced industry leader with a range of highly complementary capabilities to drive and improve the world.

Our team has made significant progress in integrating the plan, which further enhances our confidence in the value creation potential of the merger.

Today, we are a stronger and more diversified company that stands ready to better serve our global customers and seize new growth opportunities at this attractive juncture in the business cycle."

The combined company is expected to generate more than $8 billion in revenue in 2019, and its growth is compelling, especially as market conditions in the industries it serves to improve. Westinghouse Braking provides the market with a solid portfolio of more than 23, 000 locomotives, a broader global footprint, a strong product and service portfolio, and an increasing ability to drive innovation faster in key growth areas.

The company's culture and experienced global workforce will embrace the shared values of innovation, collaboration, inclusion, lean and continuous improvement to help customers solve their greatest challenges.

"Our Shared focus on innovation, collaboration and continuous improvement will enable us to create new value for shareholders, customers, employees, and the industry," said Rafael Santana, former President and CEO of GE Transportation and now President and CEO of Westinghouse Brake Freight.

Together, we are well-positioned to capitalize on the opportunities presented by industry trends that are increasingly focused on improving efficiency and performance, and as the merger completes, we will focus on leveraging our complimentary business portfolios to accelerate growth."

Through this deal, GE sold some of its GE Transportation assets to Westinghouse Brake, spun off a portion of GE Transportation to GE shareholders, and subsequently merged GE Transportation with a wholly-owned subsidiary of Westinghouse Brake.

Shareholders of Westinghouse Brake hold about 50.8% of Westinghouse Brake on a fully diluted basis, and GE shareholders hold about 24.3% of Westinghouse Brake on a fully diluted basis.

GE, which owns common shares and non-voting convertible preferred shares, represents about 24.9 percent of Westinghouse's economic interests on a fully diluted basis.

After the deal closes, GE will receive about $2.9 billion in cash.

About Westinghouse braking

Westinghouse Is the world's leading provider of equipment, systems, digital solutions, and value-added services for the freight and passenger rail industry. Combining nearly four centuries of industry experience from Westinghouse Brake, GE Transportation, and Favreau, the new Westinghouse brake has exceptional digital expertise, technological innovation, and world-class manufacturing and service that activates the entire digital ecosystem of rail and urban rail.

Westinghouse Braking is committed to the superior ability to drive progress and create transportation solutions that drive and improve the world. The Freight product line is a comprehensive product line that covers locomotives, software applications, and mission-critical control systems including active train Control systems (PTC).

The passenger product line covers the highly engineered systems and services required for every major urban rail system in the world, providing integrated parts for the bus and train-related markets to achieve safe, efficient, and comfortable passenger transport.

Westinghouse brake has the leading products and solutions for the rail and urban rail industries and is a leader in mining, maritime and industrial solutions. Westinghouse Brake employs about 27,000 people worldwide.

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